Casino Due Diligence Checklist Generator

Build a due diligence checklist for the iGaming asset you are buying or selling. Choose the asset type, licence and deal structure, and the generator lists the checks that apply, marked by priority. Tick items off as you go, then copy the list, download it as a CSV or print it to PDF. It covers licensed operators, white label casinos and sportsbooks, affiliate sites and game studios.

How to use the checklist

1. Pick your side. Buyers get a list of what to ask for. Sellers get the same checks as a list of what to prepare, so nothing surprises them once a buyer starts digging.
2. Describe the asset and the deal. Asset type, product, licence, the markets it serves, and whether it is an asset deal or a share deal. Each choice adds or removes checks. A share deal, for example, adds corporate, tax and change-of-control items.
3. Work through the critical items first. Critical checks are the ones that can stop a deal or change the price materially. Use "Critical only" for a first pass before an LOI.
4. Export it. Copy the list into an email, download a CSV for a shared tracker, or print it. Ticks are saved in your browser, so you can come back to the list later on the same device.

What iGaming due diligence covers

The checks fall into workstreams. Which ones apply depends on the asset:

Licence-specific checks

The generator adds checks for the licence you choose:

• UKGC: personal management licence holders, LCCP and social responsibility compliance, and GAMSTOP integration.
• MGA: key function holders and compliance audit reports.
• Sweden: Spelpaus integration, bonus restrictions and licence expiry.
• Curaçao: whether the business holds a direct licence from the Curaçao Gaming Authority or relied on a legacy sublicence.
• Anjouan: licence validity with the issuing authority, and which banks and payment providers accept it.
• Other national licences: local entity, representatives and the approval needed to transfer.

Regulatory requirements change. Confirm the current position with the regulator and with your lawyer before relying on any of these checks.

Red flags that change the price

These are the findings that most often lead to a renegotiation or a walk-away:

• The seller shares screenshots but will not give direct access to analytics, the platform back office or programme dashboards.
• Revenue in the P&L does not match bank or payment-provider statements.
• The licence is not on the regulator's register, or it is held by a different entity from the one selling.
• Revenue is concentrated in a single source. For an affiliate, that is one page, keyword or operator. For an operator, it is a handful of VIP players.
• A large share of revenue comes from markets the licence does not cover.
• The platform or white label contract blocks assignment or change of control, and the provider has not consented.
• For affiliates, traffic fell around a Google core update, or there are manual actions in Search Console.
• Payment providers hold rolling reserves, have issued chargeback warnings or have closed accounts.
• The seller pushes to sign before the checks are finished.

Buyer and seller due diligence

Buyers use due diligence to confirm that what they are paying for exists, transfers, and earns what the seller says. The findings feed into the price, the warranties, the escrow terms and any earnout.

Sellers who run the same checks before going to market can fix gaps, gather documents and explain weak points on their own terms. Issues a buyer finds late usually become price reductions. Issues a seller has already disclosed and explained usually do not.

Frequently asked questions

What is due diligence when buying an online casino?

It is the buyer's investigation of the business before signing. It confirms ownership and the licence, reconciles reported NGR with platform reports and bank statements, and reviews payments, AML and KYC, players, contracts, tax and liabilities. The aim is to find anything that should change the price or stop the deal.

What should be on an iGaming due diligence checklist?

For every asset: seller authority, 24 months of monthly P&L matched to bank statements, normalised earnings, account access, owner dependency and deal mechanics. Operators add licence verification, NGR reconciliation, payments, AML, players and the platform contract. Affiliates add analytics access, traffic and backlink checks, and commission statements per programme. Game studios add IP ownership, certifications and distribution contracts.

How long does iGaming due diligence take?

It depends mostly on how quickly the seller provides documents. Our standard report is delivered within 10 business days of receiving complete documentation, and our enhanced report for licensed operators and company-level deals within 15–20 business days. Regulator approval of a change of control runs on its own timeline and can take longer than the diligence itself.

What documents does a buyer ask for?

Typically 24 months of monthly P&L, platform or programme revenue reports, and bank and payment statements. Add the licence certificate and the platform or white label contract, plus corporate documents. For affiliate sites, the buyer also needs read access to Google Analytics and Search Console. The generator lists the full set for your asset and deal.

Should a seller do due diligence before selling?

Yes. A pre-sale review finds the gaps a buyer will find, while there is still time to fix or explain them. It also shortens the sale, because the documents are ready when a buyer asks.

How much does due diligence cost?

Our standard due diligence report starts at €3,500, for affiliate sites, white label casinos and early-stage platforms. Enhanced reports for licensed operators and company-level deals, and pre-sale reviews for sellers, are priced on request. The final price depends on the asset's complexity, the number of jurisdictions and how much documentation is available.

Is this checklist legal advice?

No. It is a general commercial checklist. Licence transfers, change-of-control approvals, tax and the purchase agreement need a lawyer and tax adviser in the relevant jurisdictions.

Have us run the due diligence

We review iGaming deals across ten workstreams, including direct checks with the licensing authority and the platform provider. You get a PDF report with findings, a risk assessment and a plain-language recommendation for each section. All work is under NDA, and findings go only to the party that commissions the report.

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